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Q. Quarter-inch stainless steel bolts, one-and-one half inches long, are consumed in a factory at a fairly steady rate of 60 per week. The bolts cost the plant 2 cents each. It costs the plant $12 to initiate an order and holding costs are based on an Yearly interest rate of 25 percent.
a. Decide the optimal number of bolts for the plant to purchase and the time among the placement of orders.
b. Illustrate what is the yearly setup and holding cost for this item?
c. Assume instead of small bolts we were talking about a bulky item such as packaging materials. Illustrate what problem might there be with your analysis?
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In this 350 word response with references, circumstances in which objective function is more significant than constraints is discussed. The opposite is also discussed.
Assuming the retailer's order interval is one week and lead time is same as 2 days. The average on-hand inventory is 5 items at the end of each week. Decide the order quantities using fixed order interval model.
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Robco, Inc. was a Florida arms dealer. The armed forces of Honduras contracted to purchase weapons from Robco over a six-year period.
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Nancy also revealed a problem with her right wrist. Elucidate what is causing or contributing to the delays in release of information requests.
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Based on this information and wanting to use the low cost strategy, what is the optimal order quantity that Weedandfeed should select for acquiring its Pest-be-gone next year? What is the lowest total cost for each of the two purchase options?
The data for the last week follows: Day # of Non-conformities 1 2 3 4 5 5 10 23 20 15 Construct a 3 standard deviation c chart of non-conformities. Elucidate what the control chart tells you about the IRS telephone operators
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